🚀 Gate Square “Gate Fun Token Challenge” is Live!
Create tokens, engage, and earn — including trading fee rebates, graduation bonuses, and a $1,000 prize pool!
Join Now 👉 https://www.gate.com/campaigns/3145
💡 How to Participate:
1️⃣ Create Tokens: One-click token launch in [Square - Post]. Promote, grow your community, and earn rewards.
2️⃣ Engage: Post, like, comment, and share in token community to earn!
📦 Rewards Overview:
Creator Graduation Bonus: 50 GT
Trading Fee Rebate: The more trades, the more you earn
Token Creator Pool: Up to $50 USDT per user + $5 USDT for the first 50 launche
NYDIG exposes the fragility of the "1 USD peg" of stablecoins
After the market's fall of 500 billion USD last week, NYDIG released a report showing that major stablecoins like USDC, USDT, and USDe (Ethena) lost their peg to 1 USD during the market panic. Greg Cipolaro, NYDIG's research director, emphasized that the “fixed 1 USD level” is merely an illusion—stablecoins are essentially trading assets, fluctuating around 1 USD due to arbitrage activity.
On Binance, USDe fell to 0.65 USD, while other stablecoins temporarily exceeded 1 USD due to a lack of liquidity. NYDIG explained that issuers like Circle and Tether maintain the price through a mint-burn mechanism, but this system can break down when the market is under stress. Nonetheless, lending platforms like Aave remain robust, only liquidating 0.25% of the total locked value. NYDIG concluded: stablecoins are not a safe “digital dollar”, but rather market instruments that are subject to liquidity and sentiment risks.